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How to manage the complexities of non-QM and private lending

Housing Wire

Gregory Meola, managing director, head of business development & strategy, Acra Lending Rather than formulaic QM lending, non-QM lending can be more complex. HousingWire: What are the unique complexities of non-QM lending as compared to QM loans?

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Revolution Mortgage integrates Tavant’s Touchless Lending

Housing Wire

Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. Tavant, an HW Tech100 winner for multiple years, helped underwrite more than 80,000 loans in 2021.

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Rhode Island historian uses a reverse mortgage as an estate planning tool

Housing Wire

The company later told RMD, however, that the loan was within current product lending limits. When asked about the reportedly higher lending limit for this loan, a FOA spokesperson told RMD that the reporting on the loan amount is simply incorrect and that it is “within current HomeSafe lending limits.”

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Reevaluating your origination tools? Here’s where to start

Housing Wire

With the recent downturn in volume of new originations, many lenders are using this time to take inventory of the available tools geared toward risk mitigation and workflow optimization. We have also seen large multi-channel lenders reducing their risk footprint in wholesale and correspondent lending.

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Regulators show united front on targeted lending programs

Housing Wire

Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing. Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing.

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Lenders tread carefully around targeted lending programs

Housing Wire

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Automation is coming to non-QM lending

Housing Wire

That has some producers of non-QM loans, which require specialized underwriting expertise, looking to technology, big data and the development of automated underwriting platforms as the solution for dealing with the anticipated surge in loan volume in the years ahead. Through July 2021, AOMS [Angel Oak Mortgage Solutions] has originated $1.52

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